NewEdge Advisors Boosts Stake in American Express
NewEdge Advisors LLC increased its stake in American Express Company (NYSE:AXP) by 5.7% during the second quarter, according to the company's most recent 13F filing with the Securities and Exchange Commission.
The fund now owns 112,398 shares of the payment services company's stock after purchasing an additional 6,070 shares in the period.
NewEdge Advisors LLC's holdings in American Express were worth $38,019,000 at the end of the reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings in the company. Dover Advisors LLC raised its stake in American Express by 0.4% during the fourth quarter, while Invenio Wealth Partners LLC boosted its position in shares of the payment services company by 3.9% during the third quarter.
American Express has a market capitalization of $217.41 billion and a PE ratio of 19.53, with a beta of 1.05. The stock's 50-day moving average price is $340.61, and its 200-day moving average price is $324.87.
The payment services company reported earnings per share of $4.53 for the quarter, beating analysts' consensus estimates of $4.41 by $0.12. The firm's revenue for the quarter was up 10.0% on a year-over-year basis.